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Lo bid for HI
Henderson Land is offering HK$7.35 per share to buy out the minorities in Henderson Investment - which as we show, is a whopping 40% discount to underlying value of about $12.26 per share. Its stake in HK & China Gas alone has a market value of $7.76 per HI share. The good news is that it only takes 2.49% of the company to block the deal, so if you are an institutional holder, contact us - we need your votes to block it or get a better deal.